BOCA RATON, FL, April 07, 2025 (GLOBE NEWSWIRE) -- Janover, Inc. (NASDAQ:JNVR) (the "Company") announced today that it had raised approximately $42 million in an offering of convertible notes and warrants from Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar Group, Third Party Ventures, Trammell Venture Partners, and 11 angel investors. The notes were sold in a private offering under Section 4(a)(2) under the Securities Act of 1933, as amended (the "Securities Act") and Regulation D prom ...

Revenue Growth - Revenues for the year ended December 31, 2024, were $2,099,660, representing a 5% increase from $2,003,155 in 2023[257] - Revenue for the year ended December 31, 2024 was approximately $2.1 million, an increase of approximately $97,000, or 5% from the previous year[258] - Subscription revenue for the year ended December 31, 2024 was approximately $480,000, compared to approximately $32,000 for the same period in the prior year, representing a significant increase[258] - The company experienced a significant increase in other income, which rose by 790% to $276,700 in 2024 from $31,098 in 2023[257] Annual Recurring Revenue (ARR) - Annual recurring revenue run-rate reached approximately $812,000 as of December 31, 2024, up 194% from approximately $276,000 in the prior year[246] - The Company reported an annual recurring revenue (ARR) run-rate of approximately $812,000 as of December 31, 2024, representing a 194% increase from approximately $276,000 in the prior year[280] Operating Expenses - Operating expenses decreased by 6% to $5,103,144 in 2024 from $5,408,047 in 2023[257] - Total sales and marketing expenses decreased by approximately $479,000, or 24%, to approximately $1.5 million for the year ended December 31, 2024[262] - Research and development expenses for the year ended December 31, 2024 were approximately $655,000, a decrease of approximately $137,000, or 17% from the previous year[263] - General and administrative expenses remained approximately $2.6 million for both years ended December 31, 2024 and 2023[264] Net Loss - Net loss for the year ended December 31, 2024, was $2,726,784, a 19% improvement from a net loss of $3,373,794 in 2023[257] - Net loss for the year ended December 31, 2024 was approximately $2.7 million, a decrease of approximately $647,000, or 19% from the previous year[268] Cash Flow - Cash used in operating activities was approximately $2.4 million for the year ended December 31, 2024, compared to approximately $1.6 million for the same period in the prior year[273] - Cash used in financing activities was approximately $118,000 for the year ended December 31, 2024, a significant decrease from approximately $5.8 million in the previous year[275] New Offerings and Strategic Focus - Janover Pro, launched in 2024, is the flagship offering providing an online SaaS marketplace for multifamily and commercial real estate loans[244] - Janover Connect, acquired in 2023, is a SaaS platform that helps real estate owners raise capital and manage investors[245] - The company plans to transition from transactional platform fee revenue to more predictable and profitable recurring subscription revenue[246] - The Company focuses on transitioning from transactional platform fee revenue to more predictable and profitable recurring SaaS subscription revenue in fiscal 2025[280] - Janover Insurance, launched in 2024, derives revenue from annual insurance premium commissions recognized at the start of the annual term[284] - Janover Engage, also launched in 2024, is a SaaS platform connecting real estate owners with accredited investors, generating revenue from subscription fees[284] - Janover AI, launched in 2024, is a generative AI platform aimed at optimizing the real estate lifecycle, with revenue recognized over the term of the SaaS agreement[284] Deferred Revenue and Impairment - Deferred revenue as of December 31, 2024, was approximately $341,000, compared to $83,000 in the prior year, indicating growth in SaaS fees received in advance[280] - The Company recognized an impairment of approximately $83,000 for the Groundbreaker brand during Q4 of fiscal 2024, leading to a rebranding to Janover Connect[282] Other Financial Information - Cost of revenue for the year ended December 31, 2024 was approximately $32,000, representing about 2% of total revenue[259] - The Company does not have any off-balance sheet arrangements as defined under SEC rules during the periods presented[285] - The Company evaluates goodwill and indefinite-lived intangibles annually for impairment, with no impairment noted as of December 31, 2023[282]

Revenue Growth - SaaS subscription revenue increased by 488% year-over-year in Q4 2024, contributing to 14x growth for the entire year[3] - Total revenue for Q4 2024 was approximately $629,000, an increase of 80% compared to approximately $350,000 in Q4 2023[4] - Annual recurring revenue (ARR) reached approximately $812,000, a 194% increase from approximately $276,000 in the prior year[4] - Approximately 23% of total revenue in 2024 was recurring revenue, compared to less than 1% in 2023[4] - Platform fees for Q4 2024 were approximately $444,000, a 39% increase from approximately $319,000 in Q4 2023[7] - Subscription revenue for Q4 2024 was approximately $185,000, up 488% from approximately $32,000 in Q4 2023[7] Financial Performance - Net loss for Q4 2024 was approximately $486,000, a decrease of 59% from approximately $1.2 million in Q4 2023[6] - Cash flow from operations improved by 73% year-over-year in Q4 2024[5] Business Strategy - The company plans to continue focusing on transitioning from transactional debt revenue to recurring SaaS subscription revenue in fiscal 2025[4] User Base - The company serves over one million web users annually, including multifamily and commercial property professionals[9]

Core Insights - Janover Inc. reported a significant transformation in its business model, with a 488% year-over-year increase in SaaS subscription revenue for Q4 2024, indicating a strategic pivot to a subscription-first approach [2][6] - The company achieved an annual recurring revenue (ARR) of approximately $812,000, reflecting a 194% increase compared to the previous year [3][6] Financial Performance - For Q4 2024, total revenue was approximately $629,000, an 80% increase from approximately $350,000 in Q4 2023, driven by subscription revenue and platform fees [3][5] - Subscription revenue for the year ended December 31, 2024, was approximately $480,000, compared to approximately $32,000 for the same period in 2023, marking a substantial growth [3][4] - The net loss for Q4 2024 was approximately $486,000, a 59% improvement from a net loss of approximately $1.2 million in Q4 2023 [4][6] Operational Highlights - The company experienced a 73% improvement in cash flow from operations year-over-year for Q4 2024 [6] - Janover's recurring revenue accounted for approximately 23% of total revenue in 2024, a significant increase from less than 1% in 2023 [3][4] Market Position - Janover serves over one million web users annually, including multifamily and commercial property professionals, and connects them with various financing options [9]

Core Insights - Janover Inc. has launched advanced AI search capabilities within its Janover Pro platform, enhancing the efficiency of identifying suitable lenders in the multifamily and commercial real estate sectors [1][2] - The new AI functionality allows users to describe loan scenarios in natural language, enabling the AI to process millions of data points in seconds, significantly streamlining the capital markets process [2] - The platform serves a wide range of users, including property owners, developers, and lenders, facilitating billions of dollars in debt financing annually [5] Company Overview - Janover Inc. operates as an AI-powered online platform that connects the multifamily and commercial real estate industry, providing data, software subscriptions, and value-added services [4] - The company caters to hundreds of thousands of web users each year, including over 10% of banks in America and various types of lenders such as credit unions and REITs [5] User Experience - A user of Janover Pro reported successfully closing a loan in just one month, highlighting the platform's effectiveness in identifying potential lenders and expediting the financing process [3]

Core Viewpoint - Janover Inc. is experiencing significant growth in its AI-enabled SaaS platform for the commercial real estate industry, with a focus on subscription revenue and long-term value creation for clients and shareholders [1]. Company Overview - Janover Inc. connects the commercial real estate industry through an AI-enabled platform, serving over one million annual web users and more than 1,000 lenders, including over 10% of U.S. banks [3]. - The company offers services in debt capital markets, real estate syndication software, data and AI licensing, and insurance brokerage solutions [3]. Financial Performance - The company reported a more than 190% year-over-year growth in Annual Recurring Revenue (ARR) from subscription revenue and approximately 65% sequential growth in the fourth quarter of 2024 [1]. Product Offerings - Janover's SaaS products include: - **Janover Pro**: A marketplace connecting commercial mortgage and capital markets professionals with lenders [5]. - **Janover Engage**: A platform for real estate General Partners to connect with accredited investors [5]. - **Janover Connect**: A customer-centric platform for managing investor relations and syndication operations [5]. Customer Impact - Customers have reported positive impacts from Janover's SaaS products, such as increased connections to accredited investors and streamlined syndication operations [2][5].

Core Points - Janover Inc. has regained compliance with Nasdaq's minimum closing bid price requirement, as it maintained a closing bid price of $1.00 per share for at least 10 consecutive trading days, meeting the requirement on January 13, 2025 [1] - The company was previously notified on July 16, 2024, that it was not in compliance due to its stock price falling below the required minimum for 30 consecutive business days [1] Company Overview - Janover Inc. is an AI-enabled platform that connects the commercial real estate industry, serving over one million annual web users and more than 1,000 lenders, including over 10% of U.S. banks [2] - The company provides various services such as debt capital markets, real estate syndication software, data and AI licensing, and insurance brokerage solutions to multifamily and commercial real estate professionals [2] - Janover operates through its Debt, Equity, and Insurance divisions, focusing on technology-first solutions for commercial real estate [2]

Company Overview - Janover is an AI-enabled platform that connects the commercial real estate industry, serving over one million annual web users and more than 1,000 lenders, including over 10% of U.S. banks [1] - The company provides services in debt capital markets, real estate syndication software, data and AI licensing, and insurance brokerage solutions to multifamily and commercial real estate professionals [1] Payment Innovations - Janover plans to accept select cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), as payment for certain services, reflecting its commitment to innovation and adaptation to market trends [5] - This move aligns with the growing acceptance of digital assets in both domestic policy and broader financial markets [5] Strategic Vision - The CEO of Janover emphasized the importance of participating in the digital currency market in a responsible manner, citing successful examples like MicroStrategy's capitalizing on Bitcoin's appreciation [7] - The company aims to enhance transaction flexibility for clients while maintaining a focus on responsible risk management [3]

Core Viewpoint - Janover Inc. will implement a 1-for-8 reverse stock split to increase its share price and comply with Nasdaq's minimum bid price requirement of $1.00 [1][5]. Company Overview - Janover Inc. is an AI-enabled platform that connects the commercial real estate industry, serving over one million annual web users and more than 1,000 lenders, including over 10% of U.S. banks [10]. Reverse Stock Split Details - The reverse stock split will take effect on December 30, 2024, at 12:01 a.m. Eastern Time, with trading on a post-split basis commencing the same day [5]. - Each eight shares of common stock will convert into one share, reducing the total number of shares outstanding from approximately 11,313,644 to about 1,414,206 [9]. - No fractional shares will be issued; stockholders entitled to a fractional share will have their shares rounded up [9]. Compliance and Regulatory Information - The reverse stock split is part of the company's strategy to regain compliance with Nasdaq's listing requirements [1]. - Stockholders will receive information regarding their share ownership from Colonial Stock Transfer Company, the company's transfer agent [6].

Core Insights - Janover Inc. has launched an advanced AI voice tool aimed at enhancing client engagement in the commercial real estate industry, facilitating seamless and natural conversations while performing complex CRM operations [1][2][3] Product Features - The AI voice tool offers authentic human-like conversations and deep expertise in commercial property finance, optimized for sales conversions [2] - It integrates SMS, email, and voice for seamless cross-channel communication and is designed to work within HubSpot [2] - The tool is scalable and licensable, adding to Janover's suite of AI, data, software, and advisory products [2] Company Overview - Janover Inc. is an AI-enabled platform connecting the commercial real estate industry, serving over one million annual web users and more than 1,000 lenders, including over 10% of U.S. banks [5] - The company provides various services, including debt capital markets, real estate syndication software, data and AI licensing, and insurance brokerage solutions [5]